Home Improvement – A Great Way to Make Your House More Comfortable and Increase Its Value
Home improvement is a great way to make your house more comfortable and increase its value. Many homeowners take on home improvement projects themselves to save money. Others hire contractors to do the work for them. Some common home improvement projects include installing new floors, painting, repairing drywall and upgrading the kitchen and bathroom. Homeowners should be aware of potential pitfalls when undertaking a home improvement project and be careful not to overspend.
According to the research firm Nielsen, home improvement spending is on the rise. The increase is attributed to higher housing prices and low interest rates, which are making it easier for people to afford to improve their homes. It also is fueled by an ongoing desire by consumers to make their living spaces more comfortable.
The popularity of home improvement shows and magazines reflects the increased interest in homeownership. The influx of young people into the market has helped fuel demand for new homes and renovations, especially in the suburbs.
After World War II, government mortgage insurance programs for veterans and highway construction promoted the expansion of suburban America. Large builders such as Levitt and Sons dominated the construction of homes in the post-war period, leading to a sharp increase in home ownership. Consumers in the 1950s and 1960s embraced the home-improvement movement as a way to create a sense of family togetherness around their houses and to modernize them. Magazines and toolmakers promoted home improvement as a way for fathers to bond with their children by teaching them skills.
A major renovation such as adding a master suite is an expensive home improvement. But smaller projects, such as replacing worn flooring or repainting the exterior, can add to the resale value of your home. It is important to have a clear idea of what you want to accomplish and choose the projects that will best achieve those goals.
It is also a good idea to talk to a real estate agent before starting any major projects. They can give you advice on what improvements will add the most to your home’s resale value and which ones are not worth the investment.
Homeowners should also be aware of the requirements for hiring contractors in their state. In New York, for example, a contract must be written and signed by both the contractor and the consumer before work begins. It must contain a timeline for when the work will be completed and payment schedules, including the amount of the down payment and increment payments. The contract must also include as much detail about the work to be performed as possible, including specifics such as types or brands of materials. It should also clearly establish any warranties that are part of the deal. The contract should also contain information about how disputes can be resolved. For example, it should spell out that the contractor will provide a written statement of the work to be performed and copies of all relevant building permits.